Wall Street Analyst Initiated Centene Corp. [CNC]. What else is Wall St. saying

Centene Corp. [NYSE: CNC] loss -0.87% or -0.67 points to close at $76.05 with a heavy trading volume of 3370743 shares. The company report on March 14, 2024 at 8:45 AM that DELAWARE FIRST HEALTH DONATES $15,000 FOR DOULAS TO BE CREDENTIALED IN DELAWARE.

Delaware First Health, a managed care organization and wholly owned subsidiary of Centene Corporation (NYSE: CNC), today announced three $5,000 donations, totaling $15,000, to cover the cost of credentialing Doulas in Delaware to Do Care Doula Foundation, Black Mothers in Power and Parent Information Center.

“We recognize the important work doulas provide for the community and their key role in addressing disparate maternal and infant health outcomes,” said Delaware First Health Plan President and CEO, Bill Wilson. “This can be even more powerful when they live and work in the same community as the clients they serve. Research has shown that doulas can positively impact birth outcomes. Doula services are one solution to help address inequities in health care and we are proud to ensure Delawareans have access to credentialed doulas.”.

The daily chart for CNC points out that the company has recorded 11.28% gains over the past six months.

If we look at the average trading volume of 3.03M shares, CNC reached to a volume of 3370743 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Centene Corp. [CNC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CNC shares is $90.06 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CNC stock is a recommendation set at 1.95. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Barclays have made an estimate for Centene Corp. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on March 06, 2024. While these analysts kept the previous recommendation, Wells Fargo raised their target price from $82 to $90. The new note on the price target was released on January 02, 2024, representing the official price target for Centene Corp. stock. Previously, the target price had yet another drop from $79 to $72, while BofA Securities kept a Neutral rating on CNC stock. On August 30, 2023, analysts decreased their price target for CNC shares from 94 to 73.

The Average True Range (ATR) for Centene Corp. is set at 1.64, with the Price to Sales ratio for CNC stock in the period of the last 12 months amounting to 0.26. The Price to Book ratio for the last quarter was 1.57. Price to Free Cash Flow for CNC in the course of the last twelve months was 5.61.

Trading performance analysis for CNC stock

Centene Corp. [CNC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.53. With this latest performance, CNC shares dropped by -0.85% in over the last four-week period, additionally plugging by 11.28% over the last 6 months – not to mention a rise of 20.07% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CNC stock in for the last two-week period is set at 41.50, with the RSI for the last a single of trading hit 35.17, and the three-weeks RSI is set at 45.49 for Centene Corp. [CNC]. The present Moving Average for the last 50 days of trading for this stock 77.17, while it was recorded at 77.14 for the last single week of trading, and 71.00 for the last 200 days.

Centene Corp. [CNC]: A deeper dive into fundamental analysis

Centene Corp.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 1.11.

Centene Corp. [CNC]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Centene Corp. posted 2.11/share EPS, while the average EPS was predicted by analysts to be reported at 2.09/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 1.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CNC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Centene Corp. go to 11.71%.

An analysis of Institutional ownership at Centene Corp. [CNC]

The top three institutional holders of CNC stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CNC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CNC stock with ownership which is approximately 5.8325%.

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